Exchanges

Text

The money transferred from Dubai OKX was frozen

OKX has frozen funds transferred from an external wallet allegedly linked to the bankrupt FTX exchange, underscoring the ongoing fallout from the crypto industry crisis.

Oct 19, 2024 at 02:23 am

Funds Transferred from Dubai OKX Frozen

Background:
Dubai-based OKX, one of the world's largest cryptocurrency exchanges, confirmed on October 18, 2022, that it had frozen funds transferred from an external wallet allegedly linked to FTX.
Investigation:
The freezing of funds came after OKX detected irregular activities involving the transfer of large sums of cryptocurrency from an external wallet into its platform. Initial investigations revealed that the external wallet was potentially connected to the now-bankrupt FTX.
Amount of Funds:
The exact amount of funds frozen remains undisclosed, although estimates suggest it could be substantial. OKX has stated that it is actively investigating the matter and will provide updates when appropriate.
Impact on OKX Users:
The frozen funds are believed to belong to individual users who had transferred their assets to the external wallet. OKX has assured its users that their funds are safe and unaffected by this incident. The exchange has implemented enhanced security measures to protect its users from potential fraud or theft.
Regulatory Involvement:
The United Arab Emirates (UAE) Securities and Commodities Authority (SCA) has been informed of the situation and is providing support to OKX as it conducts its investigation. The SCA has stated that it is monitoring the situation closely and will take appropriate action if necessary.
Ongoing Investigation:
OKX continues to investigate the source and nature of the funds and their connection to FTX. The exchange is cooperating with law enforcement and regulatory authorities to determine the full extent of the incident.
FXT Bankruptcy:
The FTX exchange, formerly one of the world's largest, filed for bankruptcy on November 11, 2022, after it was discovered that the exchange had mishandled customer funds and had a significant liquidity shortfall. The collapse of FTX has sent shockwaves through the crypto industry and has raised concerns about regulatory oversight.
Conclusion:
The freezing of funds linked to FTX is a significant development in the ongoing saga of the exchange's bankruptcy. OKX's actions to freeze the funds and conduct a thorough investigation demonstrate its commitment to the safety of its users and the integrity of its platform. The incident is a reminder of the importance of due diligence and regulatory oversight in the rapidly evolving cryptocurrency market.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

MOODENG

$0.0...02996

104.00%

Trade Now
WHY

$0.0...02157

77.44%

Trade Now
MAF

$0.3330

64.34%

Trade Now
XYO

$0.0091

49.76%

Trade Now
ALI

$0.0128

35.05%

Trade Now
CVX

$2.68

25.91%

Trade Now

Latest Crypto News

The Cryptocurrency Market Gears up for an Exhilarating Bull Run, with Dogecoin, Shiba Inu (SHIB), and WallitIQ (WLTQ) Poised for Remarkable Price Movements
2024-11-20 10:20:01
Coin Master Free Spins and Coins Links (March 2024)
2024-11-20 10:20:01
Cryptocurrency Market Update: Coinbase Delists WBTC, California Judge Holds DAO Members Liable, and More
2024-11-20 10:20:01
California Gold Rush Coin
2024-11-20 10:20:01
Cardano (ADA) Weekly Trading Volume Soars to Highest Point Since 2021, Signaling Resurgence in Investor Interest
2024-11-20 10:20:01
5 Best Cryptos to Buy in November 2024: Pre-Sale Gem Qubetics ($TICS) Leads the Pack
2024-11-20 10:20:01

Related knowledge

how to access coinbase without phone number

Nov 13,2024 at 08:20pm

Unlocking Coinbase Without a Phone Number: A Comprehensive GuideIntroductionCoinbase, one of the leading cryptocurrency exchanges, has implemented mandatory phone number verification as a security measure. However, for various reasons, some users may not have access to a phone number or prefer to use the platform without providing it. This article prese...

how to recover coinbase account without phone number

Nov 13,2024 at 10:24pm

How To Recover Coinbase Account Without Phone NumberCoinbase is one of the most popular cryptocurrency exchanges in the world. It is known for its user-friendly interface and its wide range of supported cryptocurrencies. However, like any other online service, Coinbase accounts can be hacked or compromised. If you have lost access to your Coinbase accou...

how to add money to coinbase without bank account

Nov 15,2024 at 08:44pm

How to Add Money to Coinbase Without a Bank AccountCoinbase is a popular cryptocurrency exchange that allows users to buy, sell, and trade digital assets. While bank transfers are the most common way to fund a Coinbase account, there are several alternative methods available for users who do not have a bank account.This article will provide step-by-step...

does zelle work with coinbase

Nov 16,2024 at 09:25am

Does Zelle Work with Coinbase? A Comprehensive GuideIntroductionZelle and Coinbase are two popular platforms in the financial and cryptocurrency realms, respectively. While Zelle facilitates digital money transfers within the United States, Coinbase serves as a leading cryptocurrency exchange. The question of whether these platforms can seamlessly integ...

can i buy bitcoin with zelle on coinbase

Nov 15,2024 at 03:14pm

Can I Buy Bitcoin with Zelle on Coinbase?In the realm of cryptocurrency exchanges, Coinbase stands as a prominent platform, renowned for its user-friendly interface and comprehensive trading options. As the crypto market continues to evolve, the demand for efficient and secure payment methods has surged. Zelle, a popular peer-to-peer payment platform, h...

can you buy bitcoin with coinbase

Nov 15,2024 at 12:16am

Can You Buy Bitcoin with Coinbase?Yes, Coinbase is one of the most popular cryptocurrency exchanges that allows users to buy, sell, and trade various cryptocurrencies, including Bitcoin. In this article, we will provide a comprehensive guide on how to buy Bitcoin with Coinbase.Step 1: Create a Coinbase AccountVisit the Coinbase website and click on the ...